This article was first published in the December 2017 edition of Marine & Maritime Gazette - to view the original article, please click here.
The European Union has recently set out its commitments to change with regard to the oceans in several major areas that will affect the marine economy worldwide.
"Our Oceans" was a conference hosted in Malta on 5 and 6 October 2017 by the European Union. By the end, the EU had committed to over 100 actions across six areas: Marine Protected Areas, Climate Change, Sustainable Fisheries, Marine Pollution, Sustainable Blue Economy and Maritime Security.
Since their introduction into international law, MPAs are intended to cover 10% of marine and coastal areas by 2020. However, with only two years to go, this law only protects 4% of marine areas and less than 1% is effectively enforced. Commitments in this area include:
The oceans presently absorb 90% of excess greenhouse gas heat and 30% of CO2 generated by humans, jeopardising seafood supplies and threatening rising sea levels. The EU is therefore committing to action including:
With an estimated one billion people relying on seafood as their primary source of meat proteins and with illegal, unreported and unregulated fishing on the rise, the EU is committing in several areas to sustainable fishing, including:
This is a major cause of ecological shifts, with contamination of heavy metals, bacteria from foreign waters as well as plastic and other human waste causing major losses of biodiversity in our oceans. To combat this, the EU is committing to, amongst other things:
With 90% of the world trade taking place via maritime transport, the EU believes safety and security in our seas is a high priority. Pollution, natural disasters, migration, piracy and armed conflict are all factors affecting security in our oceans today. The EU is therefore committing to:
The maritime economy is worth an estimated €1.3 trillion and is forecast to double by 2030. Yet the EU believes there is still untapped potential, with drivers such as aquaculture, offshore renewables, blue biotechnology, coastal tourism and mining mineral resources in need of development. The EU hopes to secure a sustainable economy by:
The announcements underline the EU's determination to improve the worldwide maritime situation is seen as a signal to encourage world governments to make similar commitments. Yet although overall investment exceeds €550m, some have commented that, when dispersed into individual projects these commitments are minor. There also needs to be a thorough investigation as to how such commitments will affect the global marine economy, in the short term at least.
We produce a range of insights and publications to help keep our clients up-to-date with legal and sector developments.
Sign up